Find out more about claiming back mis-sold payment protection insurance on loans, mortgages and credit cards.
As cases of mis-sold payment protection insurance continue to increase in the United Kingdom, a growing number of people have also started applying for PPI claims. UK consumers have also become more concerned with their chances of getting a refund on the claims they have submitted to their respective lenders. If you have taken out [...]
The Competition Commission has recently published a final order which seeks to introduce competition into the payment protection insurance market. The point-of-sale prohibition won’t come into effect until 06 April 2012. It will prevent lenders from selling PPI at the same time as loans and other financial products. Lenders looking to sell PPI will have [...]
On 02 March 2011, the Financial Services Compensation Scheme (FSCS) declared Welcome Finance in default. This means that anyone with a PPI claim against Welcome Finance will now have the option to refer the matter to the FSCS, who will investigate the claim and issue compensation, where appropriate. A firm is declared in default when [...]
Many affected consumers are interested to know whether they are eligible to make a refund from their Payment Protection Insurance or PPI. It is a type of insurance coverage sold to people taking out loans and other finance products. Because many of these policies were mis sold, it may be possible to claim compensation. To [...]
Payment protection insurance or PPI is a type of insurance coverage to protect an outstanding loan or credit card. This is often sold by banks along with the credit products they sell. The main purpose of this is to insure the debt of the borrower in case of sickness, accident tor unemployment. This is fine [...]
There is nothing inherently wrong with payment protection insurance. The issue we have is the way in which it was mis-sold to consumers. Some people rely on payment protection to cover them if they are unable to work due to accident, sickness or unemployment. However, many people are ineligible to claim on the policy, perhaps [...]
As we stated in our previous post where we were discussing the large bill faced by most of the UK banks with regards to PPI mis-selling, many people have taken out one of these payment protection insurance policies without actually realising it. Payment protection insurance is normally stated on your credit agreement. It’s worth checking [...]
Although our job is to reclaim payment protection insurance on behalf of our clients, we do recognise that in some circumstances it can be beneficial to take out one of these policies. If your lender has recommended payment protection insurance, it may pay to shop around for cheaper alternatives because in many cases the cost [...]
Unemployment has fallen slightly over the last quarter but still stands at 7.7% according to the latest figures. Many people took out payment protection insurance to shield them from difficulties should they find themselves unemployed. Some policies have exclusion clauses which may prevent people from making a claim should they find themselves out of work. [...]
If you haven’t read the news recently, you may be shocked to learn that UK banks could face a staggering £5 billion bill for PPI mis-selling. Payment protection insurance has been widely missold by banks and other lenders over the past decade, leading to a raft of ppi claims from disgruntled consumers. The banks put [...]
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